Endovascular Engineering (E2) has secured an oversubscribed $42m in a Series B funding round to further its clot removal technology platform, Hēlo PE thrombectomy system, targeting venous thromboembolism (VTE).
S3 Ventures and 415 Capital jointly led the funding round, with contributions from M&L Healthcare, Panakès Partners, and continued support from founding investor Santé Ventures.
The company noted that two worldwide strategic investors have also made substantial commitments, together with Cordis.
With the new funding, the company has also expanded its board of directors, welcoming Brian Smith of S3 Ventures and Dr Ruben Osnabrugge of 415 Capital.
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Endovascular Engineering CEO Dan Rose said: “This financing represents more than capital – it validates our technology platform and positions us to revolutionise PE treatment.
“With strong support from sophisticated healthcare investors like 415 Capital and S3 Ventures, we are well-positioned to establish the Hēlo PE system as the gold standard in mechanical thrombectomy for pulmonary embolism.”
The capital will expedite E2’s focus on developing solutions for pulmonary embolism (PE), as the company nears completion of enrolment in its prospective multicentre ENGULF pivotal trial.
This FDA-approved trial is assessing the Hēlo PE thrombectomy system’s feasibility, efficacy, and safety for PE treatment.
Featuring a patented dual-action mechanism that combines aspiration with mechanical clot disruption, the system’s “large-bore” performance is delivered through a small-profile catheter, which is expected to enable single-pass procedures.
The Hēlo PE system is currently intended solely for investigational purposes and has not received approval for commercial use.
E2 is focused on developing and deploying solutions for clot removal. Its technology platform mainly targets the intricate challenges associated with VTE intervention.
